This article is the first in a series of articles on how music rights and royalties are inherited. Was your deceased loved one a songwriter or performer? You might be entitled to inherit their music rights, which comes with a right to receive royalty payments each time a song is played, performed, sampled or streamed. […]
Continue ReadingInvesting Estate Funds in Ohio Probate: Legal Strategies for Executors
Introduction When you open a probate estate case in Ohio, the executor or administrator is responsible for managing the assets wisely until they are distributed to the beneficiaries. Most often, this is thought of not wasting, recklessly investing, or neglecting the assets. However, if an estate is large or has a lot of cash, fiduciaries […]
Continue ReadingSimplifying Probate with Advanced Bond Solutions
Probate proceedings often require executors, administrators, and trustees to secure a probate bond as a safeguard for estate assets. Without a reliable and efficient bonding process, delays can increase the stress already associated with estate settlement. Thankfully, advancements in technology have transformed how clients can obtain probate bonds, offering faster, more reliable solutions. One example […]
Continue ReadingHow to Own Your Real Estate
Real estate encompasses not only one’s primary residence but also other real estate such as a vacation home or a rental property. The ideal form of ownership varies depending on the type of real estate you own. Below, we take a look at the different types of real estate and offer advice about the best […]
Continue ReadingThirteen Estate Planning Terms You Need to Know
Estate planning—it is an incredibly important tool, not just for the uber wealthy or those thinking about retirement. On the contrary, estate planning is something every adult should do. Estate planning can help you accomplish any number of goals, including appointing guardians for minor children, choosing healthcare agents to make decisions for you should you […]
Continue ReadingReviewing Your Estate Plan after the Death of a Loved One
The death of a loved one is never easy. Regardless of your relationship with the deceased (for example, a relative, significant other, or close friend), you need space and time to process and grieve your loss. Once you have had time to cope with all that has happened, you should consider updating your estate plan […]
Continue ReadingEstate Planning Tips for Every New Homeowner
Congratulations on the purchase of your new home! Whether this is your first home or you are moving to a new home, the purchase of a home is a big event in your life. When major life events occur, it is important that you have a plan in place to ensure that you are properly […]
Continue ReadingSECURE 2.0 Act – How It Affects You and Your Retirement Account Beneficiaries
On December 29, 2022, President Biden signed the Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0 Act). The previous SECURE Act in 2020 made several changes to retirement planning: Eligible Designated Beneficiaries Exempt from the 10-Year Rule The SECURE Act provided a few exceptions to the mandatory 10-year withdrawal rule with a […]
Continue ReadingTransferring Stocks in a Probate Estate
When a decedent passes away with stock holdings, these assets can be found in various forms, such as brokerage accounts, direct registration, or physical stock certificates. As the fiduciary, it is your responsibility to gain control of these stocks to either liquidate them or transfer them to the beneficiaries. Here’s how to navigate each situation […]
Continue ReadingHow Probate Works in Ohio – Full Estates
Probate is the legal process through which a deceased person’s estate is administered and distributed. It involves validating (“probating”) the deceased person’s will (if one exists), appointing an executor or administrator (both called the “fiduciary”) to manage the estate, settling any debts and taxes, and distributing the remaining assets to the rightful beneficiaries in accordance […]
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